Take a look at the whopping sum of money that Nigeria spend to import over cassava by-products every year


Take a look at the whopping sum of money that Nigeria spend to import over cassava by-products every year

The Central Bank of Nigeria (CBN) has stated that Nigeria imports over $580 million worth of cassava by-products annually and this has made the nation rely on the imports.

This was disclosed by the CBN Governor Godwin Emefiele, via the Bank’s Twitter handle, on Thursday, while commissioning Rivers Cassava Processing Company.

According to him, the facility will help the nation reduce her reliance on imports of cassava by-products.

The tweet read: “The facility will help in reducing our reliance on imports of cassava by-products, which serves as a key input in the production of food items in several factories. Nigeria imports over $580 million worth of cassava by-products annually.

READ ALSO: See who are funding breakthrough research on garri production to support nutritional improvement in West Africa 

The cassava processing facility helps to support the CBN’s mandate of promoting economic growth for Nigeria.

The cassava processing facility will also provide farmers with a verifiable platform to access finance from the Central Bank of Nigeria and other financial institutions through our Anchor Borrowers Program.”

What you should know about the facility

With the capacity to process over 45,000 tons of cassava, the facility will provide high-quality cassava flour for households, industries and bakeries.

The integrated facility was built by the Rivers State Government with the support of Shell Petroleum Development Corporation, the Dutch Embassy Investment Nigeria Limited and their technical partners.

We do everything possible to supply quality information for farmers day in, day out and we are committed to keep doing this. Your kind donation will help our continuous research efforts.

Get in Touch

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related Articles

Still on Maize Scarcity

Still on Maize Scarcity   The Oyo State Chairman of Maize Association of Nigeria, (MAN), Olawale Ajani, said that poor rainfall, crop pests and most especially...

22 States, FCT Register for the Grazing Reserve Initiative

22 States, FCT Register for the Grazing Reserve Initiative   The Minister of Agriculture and Rural Development, Mohammed Nanono, on Thursday, at the 44th meeting of...

Get in Touch

4,664FansLike
123FollowersFollow

Latest Posts

Beginners guide to feeding pigs

Feeding pigs with quality feeds is a very vital part of the pig farming business. Your pigs will not develop properly if they are...

Still on Maize Scarcity

Still on Maize Scarcity   The Oyo State Chairman of Maize Association of Nigeria, (MAN), Olawale Ajani, said that poor rainfall, crop pests and most especially...

22 States, FCT Register for the Grazing Reserve Initiative

22 States, FCT Register for the Grazing Reserve Initiative   The Minister of Agriculture and Rural Development, Mohammed Nanono, on Thursday, at the 44th meeting of...

Poultry House, Equipments, & Facilities

The poultry housing system is critical to the success of your poultry farm. The type of poultry housing system you focus on will affect...

Check out the revolutionary dairy project in Kaduna state taking off now

Check out the revolutionary dairy project in Kaduna state taking off now The Signing of lease agreement between Kaduna State Government and ARLA Global Dairy...